You can definitely get a lot more than $1k for parting it out
Honestly, that's the only fate for that bike. It looks like there's frame and engine damage, so it was most likely totalled or the guy had no insurance.
Assumming there's no frame damage, it would cost at least $2000 to repair it to original condition. Complete fairing, forks, radiator, etc.
I would not buy that to fix/ride, but if I had the cash I would buy it to part it out or keep parts as backups.